Hi everyone!
Weekly Daily and 4H all looking red " BTCUSDT
BTC is currently looking bearish currently battling to stay up from this support level $40K , If failing to hold this support we might see it going back down to $30k-$35K
Unfortunately, most of the indicators showing red flags with bearish trends and from my personal point of view " Any open long positions at the moment should be re-evaluated and a stop loss most be in place, if you are a HOLDLER better keep riding the wave and wait for the reversal to happen" Possibly buying some more down the track.
CCI+MACD still far from reaching bottom, meaning that we could keep going in a down in the short and medium term.
Not to mention the Double top pattern formed on the Weekly C
ALWAYS look for extra confirmation before making any trade.
Happy trading people
(No financial advice)
DISCLAIMER
The trading ideas, analysis, and comments above should not be considered financial advice or recommendation to trade or invest in any financial product. Your personal situation has not been taken into consideration in the trade ideas. This page is for general educational purposes only. Do not buy or sell any product discusses on this page before doing your own research DYOR. Always do your own analysis and research and be aware of the risks involved in trading any financial product :)
Weekly Daily and 4H all looking red " BTCUSDT
BTC is currently looking bearish currently battling to stay up from this support level $40K , If failing to hold this support we might see it going back down to $30k-$35K
Unfortunately, most of the indicators showing red flags with bearish trends and from my personal point of view " Any open long positions at the moment should be re-evaluated and a stop loss most be in place, if you are a HOLDLER better keep riding the wave and wait for the reversal to happen" Possibly buying some more down the track.
CCI+MACD still far from reaching bottom, meaning that we could keep going in a down in the short and medium term.
Not to mention the Double top pattern formed on the Weekly C
ALWAYS look for extra confirmation before making any trade.
Happy trading people
(No financial advice)
DISCLAIMER
The trading ideas, analysis, and comments above should not be considered financial advice or recommendation to trade or invest in any financial product. Your personal situation has not been taken into consideration in the trade ideas. This page is for general educational purposes only. Do not buy or sell any product discusses on this page before doing your own research DYOR. Always do your own analysis and research and be aware of the risks involved in trading any financial product :)
